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    Flight Navigation System Market Report

    Flight Navigation System Market Report
    Report code - SR1384 Delivery - 2 Weeks
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    Flight Navigation System Market Trends, Dynamics & Market Insights
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    Market Insights

    The Flight Navigation System Market is projected to grow from USD 15.6 billion in 2020 to USD 22.2 billion by 2026 at a CAGR of around 6.2% during the forecast period.

    Figure: Flight Navigation System Market Size, 2020-2026 (USD Billion)

    Flight-Navigation-System-Market-Forecast

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    What is flight navigation systems?

    Flight navigation systems are designed to assist in determining the position of an aircraft by accurately maintaining a direction. Flight navigation systems offer enhanced accuracy and location services to pilots. It also assists pilots in securely landing in unpredictable or dangerous climatic conditions.

    Key Players

    Key players operating in the Flight Navigation System market are-

    • The Raytheon Company (US)
    • Universal Avionics Systems Corporation (US)
    • The Boeing Company (US)
    • Northrop Grumman Corporation (US)
    • Esterline Technologies Corporation (US)
    • Honeywell International Inc. (US)
    • Moog Inc. (US)
    • Garmin Ltd (US)
    • Rockwell Collins (US)
    • SAGEM (France)

    Market Dynamics

    The growth of the flight navigation system market is primarily driven by increasing product use in aircraft to assist in secure landing. Significant growth of the aviation industry with rising demand for aircraft is likely to drive the market growth at a significant rate during the review period. In addition to this, increasing demand for advanced flight navigation systems is likely to create lucrative opportunities for the players operating in the global market in the coming years.

    Segments' Analysis

    Product Trends

    By product, the flight navigation system market has been bifurcated into flight control systems, flight management systems, navigation systems, surveillance, and communication system. The flight control system segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period.

    Regional Trends

    By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the presence of established aviation industry in US coupled with the presence of key market players such as The Raytheon Company (US) and Universal Avionics Systems Corporation (US). The market in Asia-Pacific is expected to be driven by the growing aviation industry in developing countries particularly in China and India.

    COVID-19 Impact on Flight Navigation System Market

    Covid-19 outbreak impacted the growth of the flight navigation system market negatively. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which in turn affected the product supply and demand for a short period.

    Critical Questions Answered in the Report

    • What are the key trends in the Flight Navigation System market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the Flight Navigation System market?
    • What are the key strategies adopted by the major vendors to lead in the Flight Navigation System market?
    • What is the market share of the top vendors?

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    Target Audience

    Here is the list of the group of customers that the flight navigation system market hopes to have the greatest opportunity to convert-

    • Flight navigation system distributors
    • Flight navigation system suppliers
    • Flight navigation system manufacturers
    • Logistics organizations
    • Government bodies

    Custom Research: Stratview research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The flight navigation system market is expected to witness an impressive growth of 6.2% CAGR in the coming years.

    The Raytheon Company (US), Universal Avionics Systems Corporation (US), The Boeing Company (US), Northrop Grumman Corporation (US), Esterline Technologies Corporation (US), Honeywell International Inc. (US), Moog Inc. (US), Garmin Ltd (US), Rockwell Collins (US) and SAGEM (France) are among the key players in the flight navigation system market.

    The flight navigation system market size is expected to reach USD 22.2 billion in the foreseeable future.

    The flight control system segment is expected to register significant growth in the flight navigation system market in the coming years.

    North America accounted for the largest share in the flight navigation system market in 2020.

    Flight navigation system distributors, Flight navigation system suppliers, Flight navigation system manufacturers, Logistics organizations, Government bodies are the target audience in the flight navigation system market.

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